traders Archives - The Industry Spread

SEC Charges 18 Traders in $31 Million Stock Manipulation Scheme

October 25, 2019

The SEC alleges that the traders, who are primarily based in China, manipulated the prices of thousands of thinly traded securities by creating the false appearance of trading interest and activity in those stocks, thereby enabling them to reap illicit profits by artificially boosting or depressing stock prices.

A Financial Transaction Tax- a Tax Which Would Charge for Every Single Trade- has been Introduced in the US Congress.

May 27, 2019

Senator Bernie Sanders a Democrat of the State of Vermont, Senator Kristen Gillibrand a Democrat of the State of New York, and Congresswoman Barbara Lee a Democrat from the State of California, each introduced the Prosperity Act.  This proposed bill “imposes a tax of a fraction of a percent on the trades of stocks, bonds, and derivatives. This tax on Wall Street speculation, also known as a financial transaction tax, is estimated to generate up to $2.4 trillion in public revenue from wealthy investors over 10 years.

SEC Brings Charges in Edgar Hacking Case

January 18, 2019

The Securities and Exchange Commission today announced charges against nine defendants for participating in a previously disclosed scheme to hack into the SEC’s EDGAR system and extract nonpublic information to use for illegal trading.